In order to get their new products to market more quickly, many companies are adopting a faster, team-oriented approach called ________.

46) In order to get their new products to market more quickly, many companies are adopting a faster, team-oriented approach called ________.

A) simulated new-product development

B) sequential product development

C) team-based new-product development

D) phased-in new-product development

E) market development

Answer:  C

Diff: 1        Page Ref: 270

Skill:  Concept

Objective:  9-2

47) At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance work in a cross-functional group to save time and money in the new-product development process. Fantastic Flavors uses a(n) ________ approach.

A) customer-centered new-product development

B) sequential new-product development

C) team-based new-product development

D) innovation management system

E) consumer composite

Answer:  C

Diff: 2        Page Ref: 270

Skill:  Concept

Objective:  9-2

48) The team-based new-product development approach uses cross-functional teams that overlap the steps in the process to achieve which of the following goals?

A) save time and eliminate errors

B) save time and increase effectiveness

C) increase effectiveness and employee satisfaction

D) speed product to market and reduce costs

E) B and D

Answer:  B

Diff: 2        Page Ref: 270

Skill:  Concept

Objective:  9-2

49) Which of the following is a disadvantage of a team-based approach to new-product development?

A) It takes longer to get the right products to market.

B) The development effort is not as effective because of team members' lack of expertise.

C) Levels of risk can be more easily controlled.

D) Organizational confusion and tension can affect the process.

E) The process does not work with the shorter life cycles of many of today's products.

Answer:  D

Diff: 2        Page Ref: 270

Skill:  Concept

Objective:  9-2

50) The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.

A) clearly assigns responsibility for the process

B) yields a larger number of new-product ideas

C) guarantees successful products

D) frees up senior management time

E) requires less budget support

Answer:  B

Diff: 3        Page Ref: 272

Skill:  Concept

Objective:  9-2

51) The search for new-product ideas should be ________ rather than haphazard.

A) intermittent

B) systematic

C) segmented

D) strategically planned

E) rare

Answer:  B

Diff: 2        Page Ref: 272

Skill:  Concept

Objective:  9-2

52) ________ is the product life cycle period when sales fall off and profits drop.

A) Introduction

B) Growth

C) Maturity

D) Decline

E) Development

Answer:  D

Diff: 1        Page Ref: 273

Skill:  Concept

Objective:  9-3

53) Increasing profits will most likely occur at which stage of the PLC?

A) introduction

B) maturity

C) growth

D) decline

E) product development

Answer:  C

Diff: 2        Page Ref: 273

Skill:  Concept

Objective:  9-3

54) Which stage in the PLC is characterized by rapid market acceptance and increasing sales?

A) introduction

B) maturity

C) growth

D) decline

E) development

Answer:  C

Diff: 1        Page Ref: 273

Skill:  Concept

Objective:  9-3

55) Some products that have entered the decline stage have been cycled back to the growth stage through ________.

A) promotion or repositioning

B) concept testing

C) business analysis

D) innovation management

E) customer-centered product development

Answer:  A

Diff: 2        Page Ref: 274

Skill:  Concept

Objective:  9-3

56) All of the following are stages in the PLC EXCEPT ________.

A) introduction

B) growth

C) maturity

D) adoption

E) decline

Answer:  D

Diff: 1        Page Ref: 273

Skill:  Concept

Objective:  9-3

57) Which stage of the typical consumer product life cycle is out of order below?

A) product development

B) introduction

C) maturity

D) growth

E) decline

Answer:  C

Diff: 2        Page Ref: 273

Skill:  Concept

Objective:  9-3

58) Which of the following CANNOT be described using the PLC concept?

A) product class

B) product form

C) product image

D) brand

E) styles

Answer:  C

Diff: 3        Page Ref: 274

Skill:  Concept

Objective:  9-3

59) All of the following are accurate descriptions of a style EXCEPT which one?

A) Style products appear in home, clothing, and art.

B) Once a style is invented, it may last for generations.

C) A style has a cycle showing several periods of renewed interest.

D) Styles last only a short time and tend to attract only a limited following.

E) Styles are basic and distinctive modes of expression.

Answer:  D

Diff: 2        Page Ref: 274

Skill:  Concept

Objective:  9-3

60) Sherri's Exclusives sells currently accepted and popular clothing items in given fields. What does she stock in her store?

A) styles

B) fashions

C) fads

D) exclusives

E) services

Answer:  B

Diff: 2        Page Ref: 274

Skill:  Concept

Objective:  9-3